Continuity of cover means that we will renew your Encompass Protection policy each year until it expires, provided premiums are paid when due. This means we won’t cancel cover, place further restrictions on it or increase premiums because of changes to the insured person’s health, occupation or pastimes.
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While our team is available and happy to answer any questions you might have, we appreciate that sometimes it’s faster simply to find the answer yourself. That’s why we’ve created this frequently asked questions page – so that all the most commonly asked questions about Encompass Protection can be found in one central place.
Interim accident cover is designed to provide you with limited cover while your application is being assessed by us and is available free of charge. It starts as soon as we receive your fully completed application form, a completed personal statement and a completed premium deduction authority.
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Whenever we improve the terms of Encompass Protection, and those improvements don’t result in an increase in premiums, those terms will be made available to you.
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Yes, your Encompass Protection policy covers you 24 hours a day, anywhere in the world.
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If you cancel your Encompass Protection policy during the cooling-off period and you haven’t made a claim, your policy will be cancelled from the commencement date, and we’ll refund any premiums you’ve paid. If your cover is inside super, your refund may need to be preserved within super.
If you cancel your policy after the cooling-off period, premiums aren’t refundable.
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Yes, you can cancel your Encompass Protection policy if you no longer need it. You can let your adviser know or simply call us on 1300 476 030 or email us at customer@encompassprotect.com.au and we’ll let you know what you need to do.
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We know life is constantly changing, and you may need to make changes to your Encompass Protection policy from time to time. In many cases, general policy alterations such as changes of address or bank account details can be completed over the phone. For more complex policy alterations, we may require additional information. Either way, simply call us on 1300 476 030 or email us at customer@encompassprotect.com.au and we’ll make the process as easy for you as possible.
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The setup of your Encompass Protection policy depends on many variables, such as the cover type(s) being applied for, the cover amount and any additional information we may need to assess your application including your current health and medical history. At times, we may need to wait for information to be returned to us from other providers such as your doctor(s).
Importantly, purchasing life insurance with the guidance of your financial adviser means you’re receiving expert advice and your life insurance policy is tailored to your individual needs.
Your Encompass Protection policy can be owned by a super fund or outside super, by you or a legal entity. Your financial adviser can help you decide which ownership option is best for you.
A beneficiary is the person (or persons) you choose to receive your benefit if you pass away while you’re covered by a life insurance policy. If you’re choosing more than one beneficiary, you’ll need to let us know what proportion of the total benefit amount you’d like each beneficiary to receive. If you wish to add or update a beneficiary nomination for your policy, you can do so at any time. Simply call us on 1300 476 030 or email us at customer@encompassprotect.com.au
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Level premium ceased being available on 16 February 2024.
With level premiums, the premium is calculated based on the insured person’s age at the cover commencement date and the applicable premium rate for that age.
Level premiums generally start out higher than variable age-stepped premiums, but may become lower at some point in the future. This is because level premiums have the cost of providing insurance spread out over a number of years and will not increase because of the insured person’s age.
Level premiums may still increase or vary due to other reasons, such as increases to the sum insured (including increases as a result of the Indexation Benefit if applicable), changes to the cover or eligibility for discounts, or if the insurer makes changes to the premium rates. For more information, please see the FAQ on ‘How do my premiums change each year?’
Premium rates can change and are not guaranteed. If we make changes to our standard premium rates, we will always act reasonably and with utmost good faith, and any changes will be applied consistently for policies of the same kind. This means an individual policy will not be singled out for a change in premium rates.
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With variable age-stepped premiums, the premium is re-calculated on each policy anniversary based on the insured person’s age and the applicable premium rate on that anniversary. Variable age-stepped premiums will usually increase each year in line with the insured person’s age and any increases to the sum insured (including increases as a result of the Indexation Benefit if applicable). Premiums may also change due to other factors such as changes to the cover or eligibility for discounts, or if the insurer makes changes to the premium rates. For more information, please see the FAQ on ‘How do my premiums change each year?’
Premium rates can change and are not guaranteed. If we make changes to our standard premium rates, we will always act reasonably and with utmost good faith,
and any changes will be applied consistently for policies of the same kind. This means an individual policy will not be singled out for a change in premium rates.
Please note: Variable age-stepped premiums were previously known as stepped premiums.
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Income Protection Cover replaces up to 70% of the insured person’s income if they’re unable to work due to illness or injury. This can help you cover day-to-day expenses such as school fees or mortgage and car repayments and allows you to focus on your recovery.
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Critical illness cover provides a lump sum payment if the insured person suffers a critical illness. You can use this money for any purpose, whether it’s to seek specialised medical treatment, reduce debts or make necessary lifestyle changes.
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TPD cover provides a lump sum payment if the insured person becomes totally and permanently disabled. This can help you pay medical expenses or cover the cost of necessary lifestyle changes.
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Life insurance, sometimes also referred to as life cover, provides a lump sum payment if the insured person dies or is diagnosed with a terminal illness. You can use this to pay off debts such as a mortgage, to cover daily living expenses or save it for future needs such as school fees.
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